If you work at mcdonalds, do they take 1/3 of your profit as part of taxes?

Other answer:

Stoo:
You don't have any "profit". You're an employee. You get paid, and you pay payroll and income taxes on that salary. And it's not 1/3 – you don't make enough to make that happen. Payroll will be pretty much the most of that, and that's a flat and entirely unavoidable percentage.
Andy L:
What profit?
They take out social security and medicare for 7.65% and turn that into the Federal government.
They withhold money for Federal and State taxes as you request in order to pay whatever taxes there are.
You can estimate your actual taxes and make withholding match it.

The top 20% of income earners pay 84% of the actual Federal income taxes.
Whatever is your share, in earning money, goes to government services.
That is part of living in a society where you get services, such as police, fire, municipal water and sewer, roads, schools, public transportation, libraries, parks, food safety, product safety, and workplace protections.
Part of the money is to pay debt in government, overspent for above services. It also pays for people not contributing.

If working at McD, you get far more in services costs than you pay in tax.

Linda R:
Employees do NOT receive profits. Taxes are based on how you filled out your W-4.
Bostonian In MO:
Employees don't have "profit," they earn wages. Assuming that you will be at or very near minimum wage, your tax withholding will be less than 15% and probably closer to 10% unless you are full time. Run the numbers here for some exact numbers http://www.PayCheckCity.com
Donald B:
McDonald's will pay you for all of your earnings. State and federal governments require that the McDonald's sends part of your check to the IRS for taxes. You can get most of the money back if you file a tax return
Greg:
Employees do not make profit. They get paid. The IRS makes the employers take out taxes from your pay per your W-4 and the current withholding rules.
tro:
you are an employee of Mc D's you are not an owner so you don't make ANY profit
as an employee taxes are withheld that are mandated by Congress
Ricki:
Taxes and deductions are unlikely to hit anywhere 33% for someone earning close to minimum wage.
Andi:
> If you work at mcdonalds

Work at ???
or own a Franchise (rent the name / follow the McD processes etc)

Working for, just means you are an employee…
and not different than any other employee in any other company

Judy:
The owner has a profit, the workers don't. What are you really asking?
Share

Leave a Reply

Your email address will not be published. Required fields are marked *